NEW YORK (AP) - Teekay Offshore Partners LP said yesterday it is increasing the size of a planned offering of common units.

The partnership said it will offer 5.3 million units at $22.15 each. The underwriters of the offering will have the option to buy an additional 787,500 units to cover any over allotments.

Teekay Offshore Partners units fell $1.19, or 5.1 percent, to $22 in morning trading. The offer price is a 4.5 percent discount to Monday's closing price of $23.19.

If all the units are sold, Teekay Offshore Partners could raised as much as $133.7 million before expenses and discounts.

The company said on Monday that it would sell five million units, with up to 750,000 additional units for the underwriters. The offering is scheduled to close on Friday, and the company said the proceeds will be used for general corporate purposes, including funding acquisition of vessels.

Teekay Offshore Partners, based in Hamilton, Bermuda, is a partnership formed by Teekay Corp.